S&P 500: Sustained Breakout Could Target 5,800 - But Watch Out for Early Weakness

Stocks Analysis by Investing.com (Damian Nowiszewski) covering: Nasdaq 100, S&P 500, DAX. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com

Futures are pointing to a weak opening.to cut interest rates, a move that sparked volatility. The Fed announced a 50 basis point reduction, aligning with marketsoared to new all-time highs. The index now trades around 5,700, marking the end of the previous correction and making way for a potential new uptrend.

The recent surge enabled the Nasdaq 100 to surpass the psychological barrier of 20,000 momentarily during yesterday's trading session, signaling strong demand. But as of now, the futures are pointing towards a weak start for the index.bulls currently in control, a consolidation above 19,000 points would set the stage for a realistic target of 20,000 points.

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